hra

HRA

 

The HRA or Health Reimbursement Arrangement is an employer-sponsored plan to reimburse a portion of your and your eligible family member’s out-of-pocket medical expenses, such as deductibles, coinsurance, and pharmacy expenses.

Your employer has designated a specific dollar amount to credit to the account (either monthly or annual contributions). You choose which out-of-pocket qualified medical expenses you would like to submit for reimbursement. Furthermore, unused account balances roll over to the following plan year, provided your employer continues to offer the program, and you remain enrolled in it. For certain types of HRAs, you (and possibly other household members) must be enrolled in a health plan to use the HRA money.

HRA, QSEHRA & ICHRA Plan Administration

 

HRA providers need to stay in compliance with third-party benefits administrators. Third-party administrators provide daily administrative tasks and help ensure your HRA account stays compliant with federal, state and local regulations. We offer everything needed to set up Qualified Small Employer Health Reimbursement Arrangement, Qualified Small Employer Health Reimbursement Arrangement, and Individual Coverage Health Reimbursement Arrangement are included within our services.

Plan Documents

Outlining plan’s participants and beneficiaries, and guides the plan sponsor and plan administrator in making decisions and executing their responsibilities.

Notice to Employees

Guidance on the notice to employees of coverage options under FLSA

Summary Plan Description (SPD)

Document outlining the most important facts employees need to know about their retirement and health benefit plans including plan rules, financial information, and management of the plan.

Board Resolution & Adoption Agreement

Document verifying unanimous consent from the Board of Directors.

Reimbursement & Enrollment Form

Membership Forms.

To Learn More About QSHRA, ISHRA and HRA, visit our FAQ Page

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